Research On Financial Support For The New Urbanization In Shandong Province Based On The Perspective Of Financial Development

Urbanization is a stage that must be traversed during the progress of human society.The level of economic and social development of a region or country can be reflected by the level of urbanization. At present, China’s economy has entered a stage of stable and rapid growth, the comprehensive national strength greatly increased, especially the new conception of urbanization is put forward on the 18 th congress, the phenomenon of“enclosure around the city “appears everywhere in our country, the construction of new urbanization in full swing. But the reality is that all over the country’s new urbanization projects have appeared in the unfinished project, Shandong Province is no exception. The fundamental reason is that the capital chain rupture. Therefore, the financial support for new urbanization has gradually become a common concern of scholars at domestic and foreign, this paper makes a further research on the financial support for the urbanization construction in Shandong province.Firstly, sort out the domestic and foreign financial development theory and the relevant theories of urbanization, and analyze the relationship between the theory of financial development and urbanization, which intends to provide the theoretical basis for the research on the support of financial development in Shandong province to urbanization construction. Secondly, this paper expounds the overall urbanization level of Shandong province in detail, and analyzed the urbanization level of 17 cities, in addition introduces the status of financial development in Shandong province from the three aspects of banking, securities and insurance, and analyzes the role of Shandong Province financial support to urbanization. Again, this paper reveals the current problems existing in the financial support for urbanization of Shandong province from three aspects such as the finance, government, the enterprise and so on. Finally, it selects the financial support and urbanization indicators, through Unit root stationarity test, Granger causality test,Cointegration test, further more establish the Error correction model, makes an empirical analysis on the relationship between the financial support of Shandong province and urbanization.The following conclusions is put forward through the empirical results:(1) thereexists a positive and stable equilibrium relationship between the financial development and urbanization,(2)compared the ratio of financial structure with the financial scale and financial efficiency, the former’s support effect is more apparent,(3) the financial efficiency has a very strong positive correlation to the industry urbanization rate of Shandong province, but the support of population urbanization, social urbanization needs to be improved,(4)the financial scale has a positive correlation to the urbanization of population, industry and social. Based on the above conclusions and the existing problems of urbanization in Shandong province, this paper puts forward the following countermeasures: the government, adjust the policy mechanism, increase financial support, perfect the construction of financial support, construct healthy financial ecological environment; the financial institutions, respond to the government call actively, provide financial support, grasp the financial services demand for urbanization, improve the financial service functions; the enterprise, broaden the financing channels, feedback of rural enterprises, innovative financing way, strengthen the financing capacity.